interest rates
interest rates

Kenya paid thrice as much interest on domestic loans as it did on foreign debt in 2020, with the East African nation’s public debt surging considerably during the period, a new report released by the Treasury on Tuesday shows.

The country spent 186.7 billion shillings (about 1.7 billion U.S. dollars) as interest payments on domestic loans while that on foreign loans totaled 556 million dollars, said the Treasury in the Quarterly Economic and Budgetary Review for the period ending Dec. 31, 2020.

As of Dec. 31 last year, gross public debt stood at 66.4 billion dollars after rising by 11.2 billion dollars.

“The gross public debt comprised 52.1 percent external debt and 47.9 percent domestic debt. The increase in the public debt is attributed to external loan disbursements; exchange rate fluctuation; and the uptake of domestic debt,” said Treasury. Enditem

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleUNICEF to support released schoolgirls in Nigeria 
Next articleSales of traditional sex boosters divide opinions among Zambians
Xinhua News Agency, Xinhuanet is an important central news service-oriented website, an important information organ of the central government, and an important platform for building up China's online international communication capacity. Established on November 7, 1997, as an online news provider of the Xinhua News Agency, it was officially named Xinhuanet on March 10, 2000 and began around-the-clock news release with leading online public opinion at home and setting a good image of China abroad as its main task.


Please enter your comment!
Please enter your name here